Please share the process and Guideline for for calculation of cost for Contravention of Paras 9(1)(A) and 9(1)(B) of Schedule 1 of FEMA 20, and Paras 3.1(I)(A)(2) of Foreign Exchange Management (Mode of Payment and Reporting of Non Debt Instruments) Regulations, 2019.
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Please share the format.
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filing
fcgprfctrs
fema
under
format
certificate
How many of you have faced this problem of Investors sending FDI money without a 6-pointer KYC?
I have had several cases where in spite of telling the investors to key in 6 pointer KYC in SWIFT, their banks miss it.
In my view, 6 Pointer KYC does not serve any purpose except it creates more confusion as it is a non-standard request. Out of the 6 questions, 3 are already answered in different fields.
What is the view of the members?
filing
fcgprfctrs
done
pointer
without
While credit of amount receive declared wring purpose and result wrong purpose code recorded in the AD BANK and due to this KYC & FIRC Pending to be issued.
received email for submission of form FC-GPR along with other documents on account of foreign Inward remittance towards capital contribution in the FC-GPR in compliance with the FEMA guidelines issued by the RBI from time to time.
It has been observed from the Bank’s record that the Form FC-GPR along with other documents is yet to filed by your company against the foreign Inward remittance received on February 17, 2022 .
Kindly make it convenient by filing the Form FC-GPR along with other documents at the earliest but within 30 days from the date of allotment/ issue of equity instruments through the Single Master Form on the FIRMS portal.
The form is available on FIRMS portal of Reserve Bank of India.
Kindly note that non-filing of the return under FDI scheme within the given timeline (30 days from the date of allotment/ issue of equity instruments) would be reckoned as a contravention under FEMA and could attract penal provisions.
how to change purpose code ?
We would like to have a shareholder agreement in place but it's not ready yet.
Also, do we need to create one if the entity is a wholly owned entity with one nominee shareholder holding one share?
filing
fcgpr
mandatory
agreement
shareholder
Hi all,
Do we need to attach CS certificate while filing FCGPR in respect of subscription to MOA?
Thanks in advance
Dear Folks,
Recently we got an approval of FCGPR on the Firm Portal, however, due to delayed filing RBI has provided a comment stating that approval is subject to making the payment of LSF of a certain amount to RBI, Jaipur within 15 days. Could someone guide us as to the method of payment to LSF to the regional office of RBI, Jaipur? Whether we would require to make the payment through the Demand Draft, online or cheque, or postal order, and whether any other document or information is required to be submitted apart from the cover letter.
Kindly help us with regard to the above.
Thanking you in advance.
fcgpr
filing
late
submitting
method
Hi All,
We filed FCGPR on 9th Feb, 2022 (20 days from today) but till today no updates on approval and rejection.
Anyone faced same issues ? How many day its required to get updates in firms.
Dear All,
When the amount received from an foreign investor in that case FCGPR is required to file within 30 days from the date of allotment of securities to the NRI Investor??
Pls guide me on this.
Hi All,
Please clarify whether it is mandatory to provide CA certificate mentioning whether 100% FDI eligible under automatic route for that particular business . The bank insists for the same. Please guide.
fcgpr
Dear Learned Members,
We have filed form FCGPR with RBI and came into re submission with the following Remarks:
"CONFIRM US STATUS OF EXCESS SHARE APPLICATION MONEY"
The company has received an excess share application money which is a very small amount, in this case how to confirm with them, means do we need to get any letter from Banker or any letter from Company need to enclose with the form.
Please guide
Dear Learned Members,
We have filed form FCGPR with RBI and came into re submission with the following Remarks:
"CONFIRM US STATUS OF EXCESS SHARE APPLICATION MONEY"
The company has received an excess share application money which is a very small amount, in this case how to confirm with them, means do we need to get any letter from Banker or any letter from Company need to enclose with the form.
Please guide
